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10-Q Filing

LANDSTAR SYSTEM INC CIK: 853816 Q1 2014
Filing Information
Form Type 10-Q
Accession Number 0001193125-14-178794
Period End Date 20140331
Filing Date 20140502
Fiscal Year 2014
Fiscal Period Q1
XBRL Instance lstr-20140329.xml
Balance Sheet 67 line items
Line Item Tag Value Unit Period
Allowance on trade accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $3.59M USD Point-in-time
Allowance on trade accounts receivable AllowanceForDoubtfulAccountsReceivableCurrent $3.77M USD Point-in-time
Allowance on other receivables AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables $4.21M USD Point-in-time
Allowance on other receivables AllowanceForDoubtfulAccountsPremiumsAndOtherReceivables $4.25M USD Point-in-time
Accumulated depreciation and amortization on operating property AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $160.31M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $180.30M USD Point-in-time
Cash and cash equivalents CashAndCashEquivalentsAtCarryingValue $114.17M USD Point-in-time
Accumulated depreciation and amortization on operating property AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment $157.99M USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Common stock, par value CommonStockParOrStatedValuePerShare $0.01 USD Point-in-time
Short-term investments ShortTermInvestments $35.56M USD Point-in-time
Short-term investments ShortTermInvestments $34.94M USD Point-in-time
Common stock, authorized shares CommonStockSharesAuthorized 160.00M shares Point-in-time
Common stock, authorized shares CommonStockSharesAuthorized 160.00M shares Point-in-time
Trade accounts receivable, less allowance of $3,594 and $3,773 ReceivablesNetCurrent $378.73M USD Point-in-time
Trade accounts receivable, less allowance of $3,594 and $3,773 ReceivablesNetCurrent $411.55M USD Point-in-time
Common stock, issued shares CommonStockSharesIssued 67.12M shares Point-in-time
Common stock, issued shares CommonStockSharesIssued 67.02M shares Point-in-time
Other receivables, including advances to independent contractors, less allowance of $4,212 and $4,253 OtherReceivables $73.90M USD Point-in-time
Other receivables, including advances to independent contractors, less allowance of $4,212 and $4,253 OtherReceivables $81.99M USD Point-in-time
Treasury stock, shares TreasuryStockShares 21.53M shares Point-in-time
Treasury stock, shares TreasuryStockShares 22.17M shares Point-in-time
Deferred income taxes and other current assets OtherAssetsCurrent $14.78M USD Point-in-time
Deferred income taxes and other current assets OtherAssetsCurrent $14.59M USD Point-in-time
Total current assets AssetsCurrent $682.47M USD Point-in-time
Total current assets AssetsCurrent $658.03M USD Point-in-time
Operating property, less accumulated depreciation and amortization of $160,307 and $157,985 PropertyPlantAndEquipmentNet $177.33M USD Point-in-time
Operating property, less accumulated depreciation and amortization of $160,307 and $157,985 PropertyPlantAndEquipmentNet $171.72M USD Point-in-time
Goodwill Goodwill $31.13M USD Point-in-time
Goodwill Goodwill $31.13M USD Point-in-time
Goodwill Goodwill $57.47M USD Point-in-time
Other assets OtherAssetsNoncurrent $79.77M USD Point-in-time
Other assets OtherAssetsNoncurrent $83.24M USD Point-in-time
Total assets Assets $970.70M USD Point-in-time
Total assets Assets $944.12M USD Point-in-time
Cash overdraft BankOverdrafts $27.78M USD Point-in-time
Cash overdraft BankOverdrafts $21.18M USD Point-in-time
Accounts payable AccountsPayableCurrent $171.09M USD Point-in-time
Accounts payable AccountsPayableCurrent $157.80M USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $27.68M USD Point-in-time
Current maturities of long-term debt LongTermDebtAndCapitalLeaseObligationsCurrent $27.57M USD Point-in-time
Insurance claims SelfInsuranceReserveCurrent $92.28M USD Point-in-time
Insurance claims SelfInsuranceReserveCurrent $93.79M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $62.31M USD Point-in-time
Other current liabilities OtherLiabilitiesCurrent $70.24M USD Point-in-time
Total current liabilities LiabilitiesCurrent $375.66M USD Point-in-time
Total current liabilities LiabilitiesCurrent $376.05M USD Point-in-time
Long-term debt, excluding current maturities LongTermDebtAndCapitalLeaseObligations $61.60M USD Point-in-time
Long-term debt, excluding current maturities LongTermDebtAndCapitalLeaseObligations $73.94M USD Point-in-time
Insurance claims SelfInsuranceReserveNoncurrent $24.17M USD Point-in-time
Insurance claims SelfInsuranceReserveNoncurrent $23.91M USD Point-in-time
Deferred income taxes and other noncurrent liabilities OtherLiabilitiesNoncurrent $39.39M USD Point-in-time
Deferred income taxes and other noncurrent liabilities OtherLiabilitiesNoncurrent $42.45M USD Point-in-time
Common stock, $0.01 par value, authorized 160,000,000 shares, issued 67,121,124 and 67,017,858 shares CommonStockValue $671.00K USD Point-in-time
Common stock, $0.01 par value, authorized 160,000,000 shares, issued 67,121,124 and 67,017,858 shares CommonStockValue $670.00K USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $179.81M USD Point-in-time
Additional paid-in capital AdditionalPaidInCapitalCommonStock $180.98M USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.20B USD Point-in-time
Retained earnings RetainedEarningsAccumulatedDeficit $1.17B USD Point-in-time
Cost of 22,168,803 and 21,528,693 shares of common stock in treasury TreasuryStockValue $936.10M USD Point-in-time
Cost of 22,168,803 and 21,528,693 shares of common stock in treasury TreasuryStockValue $899.03M USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-334.00K USD Point-in-time
Accumulated other comprehensive loss AccumulatedOtherComprehensiveIncomeLossNetOfTax $-12.00K USD Point-in-time
Total shareholders' equity StockholdersEquity $443.18M USD Point-in-time
Total shareholders' equity StockholdersEquity $454.48M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $970.70M USD Point-in-time
Total liabilities and shareholders' equity LiabilitiesAndStockholdersEquity $944.12M USD Point-in-time
Income Statement 46 line items
Line Item Tag Value Unit Period
Revenue Revenues $622.88M USD 1 Quarter
Revenue Revenues $688.20M USD 1 Quarter
Investment income InterestIncomeOperating $374.00K USD 1 Quarter
Investment income InterestIncomeOperating $363.00K USD 1 Quarter
Purchased transportation PurchasedTransportationCosts $530.03M USD 1 Quarter
Purchased transportation PurchasedTransportationCosts $477.50M USD 1 Quarter
Commissions to agents SalesCommissionsAndFees $52.70M USD 1 Quarter
Commissions to agents SalesCommissionsAndFees $49.03M USD 1 Quarter
Other operating costs, net of gains on asset dispositions OtherCostAndExpenseOperating $5.24M USD 1 Quarter
Other operating costs, net of gains on asset dispositions OtherCostAndExpenseOperating $6.59M USD 1 Quarter
Insurance and claims OperatingInsuranceAndClaimsCostsProduction $11.86M USD 1 Quarter
Insurance and claims OperatingInsuranceAndClaimsCostsProduction $11.76M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $31.48M USD 1 Quarter
Selling, general and administrative SellingGeneralAndAdministrativeExpense $35.60M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $6.77M USD 1 Quarter
Depreciation and amortization DepreciationAndAmortization $6.44M USD 1 Quarter
Total costs and expenses CostsAndExpenses $581.45M USD 1 Quarter
Total costs and expenses CostsAndExpenses $643.55M USD 1 Quarter
Operating income OperatingIncomeLoss $41.81M USD 1 Quarter
Operating income OperatingIncomeLoss $45.01M USD 1 Quarter
Interest and debt expense InterestAndDebtExpense $740.00K USD 1 Quarter
Interest and debt expense InterestAndDebtExpense $768.00K USD 1 Quarter
Income from continuing operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $41.07M USD 1 Quarter
Income from continuing operations before income taxes IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments $44.25M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $16.61M USD 1 Quarter
Income taxes IncomeTaxExpenseBenefit $15.32M USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperations $27.64M USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperations $25.75M USD 1 Quarter
Income from discontinued operations, net of income taxes IncomeLossFromDiscontinuedOperationsNetOfTax $1.03M USD 1 Quarter
Net income NetIncomeLoss $26.78M USD 1 Quarter
Net income NetIncomeLoss $27.64M USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperationsPerBasicShare $0.55 USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperationsPerBasicShare $0.61 USD 1 Quarter
Income from discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicShare $0.02 USD 1 Quarter
Earnings per common share EarningsPerShareBasic $0.61 USD 1 Quarter
Earnings per common share EarningsPerShareBasic $0.58 USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperationsPerDilutedShare $0.55 USD 1 Quarter
Income from continuing operations IncomeLossFromContinuingOperationsPerDilutedShare $0.61 USD 1 Quarter
Income from discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTaxPerDilutedShare $0.02 USD 1 Quarter
Diluted earnings per share EarningsPerShareDiluted $0.61 USD 1 Quarter
Diluted earnings per share EarningsPerShareDiluted $0.57 USD 1 Quarter
Earnings per common share WeightedAverageNumberOfSharesOutstandingBasic 46.51M shares 1 Quarter
Earnings per common share WeightedAverageNumberOfSharesOutstandingBasic 45.41M shares 1 Quarter
Diluted earnings per share WeightedAverageNumberOfDilutedSharesOutstanding 45.60M shares 1 Quarter
Diluted earnings per share WeightedAverageNumberOfDilutedSharesOutstanding 46.72M shares 1 Quarter
Dividends per common share CommonStockDividendsPerShareDeclared $0.06 USD 1 Quarter
Cash Flow Statement 67 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $26.78M USD 1 Quarter
Net income NetIncomeLoss $27.64M USD 1 Quarter
Discontinued operations IncomeLossFromDiscontinuedOperationsNetOfTax $1.03M USD 1 Quarter
Depreciation and amortization of operating property DepreciationAndAmortization $6.77M USD 1 Quarter
Depreciation and amortization of operating property DepreciationAndAmortization $6.44M USD 1 Quarter
Non-cash interest charges AmortizationOfDeferredCharges $55.00K USD 1 Quarter
Non-cash interest charges AmortizationOfDeferredCharges $54.00K USD 1 Quarter
Provisions for losses on trade and other accounts receivable ProvisionForDoubtfulAccounts $729.00K USD 1 Quarter
Provisions for losses on trade and other accounts receivable ProvisionForDoubtfulAccounts $829.00K USD 1 Quarter
Gains on sales/disposals of operating property GainLossOnSaleOfPropertyPlantEquipment $59.00K USD 1 Quarter
Gains on sales/disposals of operating property GainLossOnSaleOfPropertyPlantEquipment $642.00K USD 1 Quarter
Deferred income taxes, net IncreaseDecreaseInDeferredIncomeTaxes $-1.26M USD 1 Quarter
Deferred income taxes, net IncreaseDecreaseInDeferredIncomeTaxes $2.09M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $1.62M USD 1 Quarter
Stock-based compensation ShareBasedCompensation $1.16M USD 1 Quarter
Decrease (increase) in trade and other accounts receivable IncreaseDecreaseInReceivables $41.62M USD 1 Quarter
Decrease (increase) in trade and other accounts receivable IncreaseDecreaseInReceivables $-15.92M USD 1 Quarter
Decrease (increase) in other assets IncreaseDecreaseInOtherOperatingAssets $-1.18M USD 1 Quarter
Decrease (increase) in other assets IncreaseDecreaseInOtherOperatingAssets $1.56M USD 1 Quarter
Increase (decrease) in accounts payable IncreaseDecreaseInAccountsPayable $13.29M USD 1 Quarter
Increase (decrease) in accounts payable IncreaseDecreaseInAccountsPayable $-4.62M USD 1 Quarter
Increase in other liabilities IncreaseDecreaseInOtherOperatingLiabilities $8.11M USD 1 Quarter
Increase in other liabilities IncreaseDecreaseInOtherOperatingLiabilities $4.04M USD 1 Quarter
Increase in insurance claims IncreaseDecreaseInInsuranceLiabilities $1.25M USD 1 Quarter
Increase in insurance claims IncreaseDecreaseInInsuranceLiabilities $880.00K USD 1 Quarter
NET CASH PROVIDED BY OPERATING ACTIVITIES OF CONTINUING OPERATIONS NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $13.67M USD 1 Quarter
NET CASH PROVIDED BY OPERATING ACTIVITIES OF CONTINUING OPERATIONS NetCashProvidedByUsedInOperatingActivitiesContinuingOperations $52.72M USD 1 Quarter
Net change in other short-term investments IncreaseDecreaseInRestrictedCashAndInvestments $3.25M USD 1 Quarter
Sales and maturities of investments ProceedsFromSaleAndMaturityOfMarketableSecurities $12.70M USD 1 Quarter
Sales and maturities of investments ProceedsFromSaleAndMaturityOfMarketableSecurities $14.56M USD 1 Quarter
Purchases of investments PaymentsToAcquireMarketableSecurities $23.15M USD 1 Quarter
Purchases of investments PaymentsToAcquireMarketableSecurities $15.06M USD 1 Quarter
Purchases of operating property PaymentsToAcquirePropertyPlantAndEquipment $732.00K USD 1 Quarter
Purchases of operating property PaymentsToAcquirePropertyPlantAndEquipment $1.72M USD 1 Quarter
Proceeds from sales of operating property ProceedsFromSaleOfPropertyPlantAndEquipment $1.94M USD 1 Quarter
Proceeds from sales of operating property ProceedsFromSaleOfPropertyPlantAndEquipment $276.00K USD 1 Quarter
NET CASH USED BY INVESTING ACTIVITIES OF CONTINUING OPERATIONS NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-10.23M USD 1 Quarter
NET CASH USED BY INVESTING ACTIVITIES OF CONTINUING OPERATIONS NetCashProvidedByUsedInInvestingActivitiesContinuingOperations $-4.21M USD 1 Quarter
Decrease in cash overdraft ProceedsFromRepaymentsOfBankOverdrafts $-2.19M USD 1 Quarter
Decrease in cash overdraft ProceedsFromRepaymentsOfBankOverdrafts $-6.60M USD 1 Quarter
Dividends paid PaymentsOfDividends $18.64M USD 1 Quarter
Proceeds from exercises of stock options ProceedsFromStockOptionsExercised $1.61M USD 1 Quarter
Proceeds from exercises of stock options ProceedsFromStockOptionsExercised $1.13M USD 1 Quarter
Taxes paid in lieu of shares issued related to stock-based compensation plans PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.63M USD 1 Quarter
Taxes paid in lieu of shares issued related to stock-based compensation plans PaymentsRelatedToTaxWithholdingForShareBasedCompensation $1.65M USD 1 Quarter
Excess tax effect on stock option exercises ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $505.00K USD 1 Quarter
Excess tax effect on stock option exercises ExcessTaxBenefitFromShareBasedCompensationFinancingActivities $255.00K USD 1 Quarter
Purchases of common stock PaymentsForRepurchaseOfCommonStock $37.05M USD 1 Quarter
Principal payments on long-term debt and capital lease obligations RepaymentsOfLongTermDebtAndCapitalSecurities $19.85M USD 1 Quarter
Principal payments on long-term debt and capital lease obligations RepaymentsOfLongTermDebtAndCapitalSecurities $12.86M USD 1 Quarter
NET CASH USED BY FINANCING ACTIVITIES OF CONTINUING OPERATIONS NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-75.17M USD 1 Quarter
NET CASH USED BY FINANCING ACTIVITIES OF CONTINUING OPERATIONS NetCashProvidedByUsedInFinancingActivitiesContinuingOperations $-21.81M USD 1 Quarter
Operating activities of discontinued operations CashProvidedByUsedInOperatingActivitiesDiscontinuedOperations $119.00K USD 1 Quarter
Financing activities of discontinued operations CashProvidedByUsedInFinancingActivitiesDiscontinuedOperations $-4.07M USD 1 Quarter
Net cash used by discontinued operations NetCashProvidedByUsedInDiscontinuedOperations $-3.95M USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-432.00K USD 1 Quarter
Effect of exchange rate changes on cash and cash equivalents EffectOfExchangeRateOnCashAndCashEquivalents $-225.00K USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $-66.14M USD 1 Quarter
Increase (decrease) in cash and cash equivalents CashAndCashEquivalentsPeriodIncreaseDecrease $16.50M USD 1 Quarter
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $180.30M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $114.17M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $90.78M USD Point-in-time
Cash and cash equivalents at beginning of period CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $74.28M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $180.30M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $114.17M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $90.78M USD Point-in-time
Cash and cash equivalents at end of period CashAndCashEquivalentsAtCarryingValueIncludingDiscontinuedOperations $74.28M USD Point-in-time
Stockholders Equity 13 line items
Line Item Tag Value Unit Period
Dividends, per share CommonStockDividendsPerShareDeclared $0.06 USD 1 Quarter
Beginning Balance StockholdersEquity $443.18M USD Point-in-time
Beginning Balance StockholdersEquity $454.48M USD Point-in-time
Net income NetIncomeLoss $26.78M USD 1 Quarter
Net income NetIncomeLoss $27.64M USD 1 Quarter
Dividends DividendsCommonStockCash $2.72M USD 1 Quarter
Purchases of common stock TreasuryStockValueAcquiredCostMethod $37.05M USD 1 Quarter
Issuance of stock related to stock-based compensation plans, including excess tax effect StockIssuedDuringPeriodValueShareBasedCompensation $-12.00K USD 1 Quarter
Stock-based compensation AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue $1.16M USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-283.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-322.00K USD 1 Quarter
Ending Balance StockholdersEquity $443.18M USD Point-in-time
Ending Balance StockholdersEquity $454.48M USD Point-in-time
Comprehensive Income 12 line items
Line Item Tag Value Unit Period
Net income NetIncomeLoss $26.78M USD 1 Quarter
Net income NetIncomeLoss $27.64M USD 1 Quarter
Unrealized holding gains (losses) on available-for-sale investments, tax benefit (expense) OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax $31.00K USD 1 Quarter
Unrealized holding gains (losses) on available-for-sale investments, tax benefit (expense) OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax $-60.00K USD 1 Quarter
Unrealized holding gains (losses) on available-for-sale investments, net of tax benefit (expense) of ($60) and $31 OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $110.00K USD 1 Quarter
Unrealized holding gains (losses) on available-for-sale investments, net of tax benefit (expense) of ($60) and $31 OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax $-58.00K USD 1 Quarter
Foreign currency translation losses OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-225.00K USD 1 Quarter
Foreign currency translation losses OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax $-432.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-283.00K USD 1 Quarter
Other comprehensive loss OtherComprehensiveIncomeLossNetOfTax $-322.00K USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $26.50M USD 1 Quarter
Comprehensive income ComprehensiveIncomeNetOfTax $27.32M USD 1 Quarter

Data is extracted from SEC EDGAR XBRL filings. Values shown are as reported in the filing.

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